, primarily in the defense budget, which could have huge repercussions for the massive u.s. defense industry. and there's more -- investment in the country's aging infrastructure would also have to be cut back. some experts say it would mean the u.s. gross domestic product would shrink by at around 3.5%. the resulting recession could have severe consequences for the entire global economy. >> the american economy gets a cold, the rest of the world this sneezing pretty quickly, too, so it is going to have ramifications. how quickly those will happen depends on exactly which parts of the economy start to give way first. >> jennifer thomas hopes it will not come to that, but time is running out for politicians in washington to reach a deal. >> germany is gearing up for federal elections to take place next autumn, even though campaigning is not yet in full swing. the leading candidates are already fully in the spotlight, and, of course, keeping the election in mind with their every public mood. the opposition certainly have their work cut out for them. current opinion polls favor the incumbent ch